Cramer's Eye Will Be on Box as Cloud Company Reports First-Quarter Results on Wednesday

When Box reports its first-quarter earnings after Wednesday's market close, Jim Cramer will be among those watching.

NEW YORK (TheStreet) -- TheStreet's Jim Cramer is keeping an eye on shares of Box (BOX) as the cloud-storage company prepares to release its first-quarter earnings results after the market's close on Wednesday.

Cramer says the last time out, Box had an O.K. quarter but a horrendous conference call. He says the company has been working hard to tell a better narrative because it has been winning a lot of customers. This is a preferred way to do storage, he says.

He adds that Box's shares are substantially undervalued as compared with those of Dropbox, which is still private. He says he's looking for Box CEO Aaron Levie to be able to learn how to tell a story and basically get the jitters out.

That said, Cramer thinks this is a horrible market for technology. While he doesn't expect a big upside, he does expect a better conference call this time around.

Wall Street analysts are expecting the company to post a loss of $0.31 a share and revenue of $63.70 million for the quarter.

The stock has had a 52-week low of $16.41 and a 52-week high of 24.73. Founded by Aaron Levie in 2005, Box provides cloud-computing services.

The Los Altos, Calif.-based company relies on a freemium business model and provides as much as 10 gigabytes of free storage for personal accounts.

The company debuted on the New York Stock Exchange on Jan. 23, 2015. Though its IPO started off strong, Box's stock price has been struggling over the past six months and has declined 27% for the year thus far. The stock is now trading at about $17 a share, a drop of almost 30% from its high of $24.73 in January. By 2:49 p.m. EDT on Tuesday, the shares were trading at at 16.90, a decline of 4.09% for the day.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.